BAE to Dispose of Saab Stake

LONDON—U.K. defense giant BAE Systems PLC said Friday it is selling its 20.5% stake in Swedish defense group Saab AB, maker of the Gripen jet fighter, in a deal potentially valued at $300 million.

Saab's largest shareholder, BAE Systems said in a statement that it will sell half its stake to Sweden's Investor AB for 1.07 billion Sweden kronor ($149.5 million) and signaled its intention to dispose of the remainder in due course...